Versor Investments LP Makes New Investment in LendingClub Co. (NYSE:LC)

Versor Investments LP purchased a new position in shares of LendingClub Co. (NYSE:LC – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,300 shares of the credit services provider’s stock, valued at approximately $191,000.

A number of other large investors also recently made changes to their positions in LC. Strs Ohio increased its holdings in shares of LendingClub by 6.1% during the 2nd quarter. Strs Ohio now owns 22,700 shares of the credit services provider’s stock worth $265,000 after buying an additional 1,300 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of LendingClub by 6.8% during the 2nd quarter. Arizona State Retirement System now owns 27,383 shares of the credit services provider’s stock worth $320,000 after buying an additional 1,736 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of LendingClub by 8.8% during the 1st quarter. Royal Bank of Canada now owns 21,792 shares of the credit services provider’s stock worth $344,000 after buying an additional 1,767 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of LendingClub during the 1st quarter worth $30,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of LendingClub by 367.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after buying an additional 2,049 shares during the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.

LendingClub Stock Up 0.8 %

Shares of NYSE LC opened at $8.76 on Wednesday. LendingClub Co. has a 12-month low of $8.23 and a 12-month high of $26.87. The company has a market cap of $920.58 million, a P/E ratio of 3.13 and a beta of 1.92. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $9.56 and a 200 day moving average price of $11.72.

LendingClub (NYSE:LC – Get Rating) last announced its earnings results on Wednesday, October 26th. The credit services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $304.91 million during the quarter, compared to the consensus estimate of $294.95 million. LendingClub had a return on equity of 21.55% and a net margin of 24.88%. Research analysts anticipate that LendingClub Co. will post 1.37 EPS for the current fiscal year.

Insider Activity

In other LendingClub news, Director Allan R. Landon bought 5,000 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was bought at an average cost of $10.01 per share, for a total transaction of $50,050.00. Following the completion of the purchase, the director now directly owns 28,340 shares of the company’s stock, valued at $283,683.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Fergal Stack sold 6,240 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $10.09, for a total transaction of $62,961.60. Following the transaction, the senior vice president now owns 145,329 shares of the company’s stock, valued at $1,466,369.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan R. Landon purchased 5,000 shares of LendingClub stock in a transaction dated Wednesday, November 2nd. The shares were bought at an average cost of $10.01 per share, for a total transaction of $50,050.00. Following the transaction, the director now directly owns 28,340 shares of the company’s stock, valued at approximately $283,683.40. The disclosure for this purchase can be found here. Insiders acquired 22,300 shares of company stock worth $214,646 over the last ninety days. Corporate insiders own 3.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LC shares. Maxim Group dropped their price objective on LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 31st. StockNews.com assumed coverage on LendingClub in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wedbush lowered their price target on LendingClub from $20.00 to $15.00 in a report on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.75.

LendingClub Company Profile

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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.